214 PM Homework: 5-2 MyAccounting Lab: Module Five Homework PART-2 Saw Score: 0 of 26 pts 6 of 6 (0 complete) HW Score: 0 %, 0 of 100 P6-71B (book/static) Question Help SWAT Surplhs began March 2018 with 100 tents that cost $10 each During the month, the company made the following puchases at cost m(Clck the icon to view the purchases) The company sold 318 lents, and at March 31, the ending inventory consisted of 52 tents The sales price of each tent was $52 Read the requirements Requirement 1.Determine the cost of goods sold and ending inventory amounts for March under the average-cost, FIFO, and LFO costing methods Round the average cost per unit to two decimal places, and round all other amounts to the nearest dollar X Number of units Average cost Requrements Cost of goods sold Ending inventory - X Data Table 1. Determine he cost of goods sold and ending inventory amounts for March under the average-cost, FIFO, and LIFO costing methods Round the average cost per unit to two decimal places and round all other amounts to the nearest. dollar 110 tents $20 2.200 Jul 2. Explain why cost of goods sold is highest under LIFO. Be specific. 3. Prepare the SWAT Surplus income statement for March Report gross proft Operating expenses totaled $3.250 The company uses average costing for inventory The income tax rate is 36 % 120 tents $25 18 3,000 26 40 tents $30 1,200 Enter any number in the edit fields and then cick Check Answe Print Done Print Done 4 Darts femaining Clear All Check Answe